Basking in the glow of one of his country’s best diplomatic weeks in
recent times Kikwete takes on Museveni, Kagame and Uhuru over Coalition
of the Willing. TEA Graphic
The value of local listed companies at the Dar es Salaam bourse more
than doubled during Wednesdays trade while that of all firms listed on
the Nairobi bourse edged close to the Ksh2 trillion ($23 billion) mark
as high demand for stocks continued to push prices up.
NATION MEDIA GROUP
By David Mugwe
In Summary
- The value of all 12 local listed companies at the DSE – as measured by the domestic market capitalization - more than doubled to Tsh5.96 trillion ($3.7 billion) at the close of trading from Tsh2.94 trillion ($1.87 billion) as at the close of last year (See graphic)
- The value of all listed firms closed at Ksh1.994.89 trillion ($22.96 billion) at the close of trading edging very close to setting a new record on high demand from both foreign and local investors.
- Investor’s wealth at the NSE had risen as at the close of trading risen by 56.83 per cent or Ksh722.88 billion ($8.3 billion) from Ksh1.27 trillion ($14.78 billion), which was the valuation as at the close of last year
- The top three performing stocks at the Uganda Securities Exchange as at the close of trading on Wednesday were British American Tobacco Uganda which has gained 76.86 per cent, Stanbic Bank Uganda which has gained 50 per cent and Umeme which has gained 37.45 per cent (See graphic)
- The best performing stock at the Rwanda Stock Exchange has been Bank of Kigali which has gained 96.85 per cent while Bralirwa has gained 34.6 per cent
The value of local listed companies at the Dar
es Salaam bourse more than doubled during Wednesdays trade while that of
all firms listed on the Nairobi bourse edged close to the Ksh2 trillion
($23 billion) mark as high demand for stocks continued to push prices
up.
Data from the Dar es Salaam Stock Exchange (DSE)
shows that the value of all 12 local listed companies – as measured by
the domestic market capitalization - more than doubled to Tsh5.96
trillion ($3.7 billion) at the close of trading from Tsh2.94 trillion
($1.87 billion) as at the close of last year.
The Dar es Salaam bourse said market activity was
skewed towards foreign investors with local investors making a minimal
contribution with activity focused on National Microfinance Bank (NMB)
and CRDB Bank.
“Foreign investors generated a turnover of Tsh426
million ($265,094) from the purchase of one million CRDB shares and
52,400 NMB shares and a turnover of Tsh375.75 million ($233,824) from
the sale of one million CRDB shares and 32,300 NMB shares,” said the DSE
in the end of day market report.
The Tanzania Share Index (TSI) - which tracks the
prices of local stocks only excluding cross listed shares – closed at
2,837.44 points which is a 102.33 per cent gain from its close of at the
end of last year of 1,402.38 points.
On the other hand, the All Shares Index (DSEI) –
which tracks prices of all the shares including cross-listed ones -
closed at 1,909.91 points, which is a 29.14 per cent gain from its close
at the end of last year of 1,478.99 points.
Analysts at Tanzania Securities Limited, in an end
of day brief to investors said the indices edged further up supported
by the price increase in the Tanzania Breweries Limited (TBL) which
extended its gains from Tuesday’s close and NMB counters.
TBL on Tuesday announced that it will pay half of
its six months net income of Tsh43.35 billion ($26.9 million) in an
interim dividend to investors who will be on the register by December
19, which translated to Tsh150 ($0.09) per share (See graphic).
The brewers shares, which closed at Tsh8,000
($4.98) have risen by more than two and a half times from an opening
price of Tsh2,800 ($1.78) at the beginning of this year.
Tanzania Cigarette Company’s (TCC) shares have
also more than doubled in price to Tsh8,600 ($5.35) from Tsh4,200
($2.67) at the beginning of this year.
Foreign investor participation had jumped to 60.44
per cent in the three months to September from 53.07 per cent between
April and Jun
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